Coherus Biosciences' Revenue Doubles in Fourth Quarter
Thursday, 14 March 2024, 22:28
Coherus Biosciences Q4 Earnings Overview
The fourth-quarter revenue for Coherus Biosciences saw substantial growth, doubling to $91.5 million but still missing analyst estimates.
Key Business Decisions
- Coherus divested its ophthalmology unit to peer Sandoz for $170 million in an all-cash deal.
- The company shifted its focus to oncology, planning a 30% reduction in workforce by the end of the year.
Prognosticators expected higher revenue and lower losses, leading to a significant 6% decline in the stock price.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.